Saving small amounts every month can help you build a strong financial base, and SBI’s new Har Ghar Lakhpati Scheme aims to do exactly that.
SBI Har Ghar Lakhpati Scheme 2025: What This RD Plan Offers
The State Bank of India has launched the Har Ghar Lakhpati Scheme to help families develop a consistent saving habit. Under this special RD plan, customers can deposit a small monthly amount and grow it into a large fund over time. With a monthly deposit of around ₹591, the maturity amount can reach nearly ₹1 lakh in 10 years, depending on the interest rate.
This scheme is designed for individuals who prefer secure and disciplined savings without taking market risks. Moreover, both regular customers and senior citizens receive attractive interest benefits as per SBI’s standard RD structure.
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Tenure and Deposit Options of SBI Har Ghar Lakhpati RD
SBI allows customers to choose a flexible tenure between 3 to 10 years. The monthly deposit remains fixed throughout the period, ensuring consistent growth. Meanwhile, the bank compounds interest on a quarterly basis, which helps the maturity value grow faster over long durations.
Because this plan runs through the country’s largest government bank, it offers strong trust and security for long-term savers.
Main Features of SBI Har Ghar Lakhpati Scheme
This RD scheme works on the principle of fixed monthly deposits and guaranteed interest. Customers get the full maturity amount after completing the selected tenure. Here are the key highlights:
- Minimum tenure: 3 years, Maximum tenure: 10 years
- Monthly deposit: ₹591 (approx.)
- Quarterly compounding increases maturity value
- Senior citizens receive higher interest rates
- Penalty applies for missed deposits
- Funds can be used for education, emergencies, or future expenses
SBI Har Ghar Lakhpati Scheme Overview
| Feature | Details |
|---|---|
| Scheme Name | Har Ghar Lakhpati Scheme 2025 |
| Monthly Deposit | Approx. ₹591 |
| Minimum Tenure | 3 Years |
| Maximum Tenure | 10 Years |
| Maturity Amount | Around ₹1,00,000 |
| Interest Rate | 6.50% – 7.50% per annum |
| Compounding | Quarterly |
| Penalty | ₹9–₹12 for missed deposits |
| Eligibility | All Indian residents |
| Senior Citizen Benefit | 0.50% extra interest |
How the Scheme Works
Once the customer deposits the fixed monthly amount, SBI adds interest to the total balance every quarter. Over 10 years, the combination of regular deposits and compounding interest results in nearly ₹1 lakh. The plan encourages disciplined savings and helps families build a strong financial backup.
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Why You Should Consider the SBI Har Ghar Lakhpati Scheme
This plan is ideal for individuals looking for stable returns without market risks. Here are the major benefits:
- Small monthly contributions grow into a large amount
- Safe and reliable because it is an SBI plan
- Fixed interest with consistent compounding
- Perfect for low-income and middle-income families
- Simple to open and manage at any SBI branch
Important Details About SBI Har Ghar Lakhpati RD
| Parameter | Details |
|---|---|
| Monthly Deposit | ₹591 (approx.) |
| Tenure | 3–10 Years |
| Total Principal (10 years) | ₹70,920 |
| Estimated Maturity | ~₹1,00,000 |
| Interest Rate | 6.5%–7.5% annually |
| Compounding | Quarterly |
| Penalty | ₹9–₹12 per missed month |
| Eligibility | Any Indian citizen |
| Where to Open | SBI branches nationwide |
Precautions Before Investing
To get full benefits, deposit regularly and avoid penalties. Closing the account early is not advised, as it reduces the total return. Also, interest rates may change as per SBI guidelines, so always confirm current rates before opening the account.
FAQs – SBI Har Ghar Lakhpati Scheme
1. Can anyone open this RD scheme?
Yes, any Indian resident can open this plan at any SBI branch.
2. Is the maturity amount guaranteed?
Yes, since it is an RD plan, your principal and interest are both guaranteed.
3. What happens if I miss a monthly deposit?
A small penalty is charged, and repeated non-payment may lead to account closure.
